Legal information

You should consider your income tax position when deciding which products to have in your Intelligent Finance plan, whether you wish to be paid interest on your savings each month or once a year and which option you want us to use for the balance netting calculation.

You can only open and operate an Intelligent Finance plan or part of it if you live in the UK.

You must be 16 or over (for cash ISAs, you must be aged 18 or over). Credit facilities are only available to people aged 18 or over. We take into account your personal and financial circumstances.

A credit reference check will be carried out in respect of each applicant and, whether or not credit is granted, the agency will retain a record of each search for its own use.

Our products and offers are subject to conditions. We can withdraw them without notice.

We may change charges and make new or different ones (or change the way in which you have to pay them). We may also change interest rates (unless they are fixed).

We (and any other members of our group of companies) will keep any commission we (or they) receive in connection with any insurance we (or they) arrange.

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

Definitions of the types of interest referred to in our terms and conditions (PDF, 737KB):

• EAR is the Equivalent Annual Rate. This is the actual annual interest rate of an overdraft. This means you are charged over the year based on how often and how much you are overdrawn by, and the effect of compounding it – charging interest on interest already charged. This does not include any other fees and charges.
• AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year. As every advertisement for a savings product, which quotes an interest rate, contains an AER you will be able to compare more easily what return you can expect from your savings over time.
• Gross rate means we will not automatically deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).
• Tax free is the contractual rate of interest payable where interest is exempt from income tax.

Intelligent Finance, a division of Bank of Scotland plc, The Mound, Edinburgh EH1 1YZ, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.

Intelligent Finance Accident, Sickness and Unemployment Insurance is underwritten by Pinnacle Insurance plc., whose registered office is at Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire, WD6 2XX.

Pinnacle Insurance plc proposes to choose English law as the law which applies to the policy.

You can, at any time, ask the insurers for detailed information about compensation arrangements. These compensation arrangements apply in the event that an insurer goes into liquidation and cannot pay its debts.

If you have any complaint regarding your ASU cover, please contact Pinnacle Insurance plc: Pinnacle House, A1 Barnet Way, Borehamwood, Hertfordshire, WD6 2XX.

Should the matter still not be resolved to your satisfaction, you will have the right to refer your complaint to: Financial Ombudsman Service (FOS), Exchange Tower, London E14 9SR However, please note that there are some instances when the FOS cannot consider complaints.

The above does not affect your legal rights.

Intelligent Finance, a division of Bank of Scotland plc, The Mound, Edinburgh EH1 1YZ, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

The Financial Services Register is a public record of financial services firms, individuals and other bodies which fall under its regulatory jurisdiction.

Our Financial Services Register number is 169628.

Our permitted business is advising on, arranging and administering general insurance policies.

You can check this on the FCA's Register by visiting the FCA Register website, or by contacting the FCA on 0800 111 6768. Or you can find out more about the FCA generally by visiting the FCA website.

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.

For further information about the compensation provided by FSCS (including the amounts covered and eligibility to claim) please call us on 0345 609 4343, refer to the FSCS website www.FSCS.org.uk or call 020 7741 4100 or 0800 678 1100. Please note only compensation related queries should be directed to the FSCS.

Deposits in Intelligent Finance or IF branded accounts are held with Bank of Scotland plc. Accounts with Bank of Scotland plc include accounts with its divisions and trading names: Halifax, Birmingham Midshires (BM Savings), Bank of Scotland, Bank of Scotland Private Banking and Bank of Wales. An eligible depositor's £85,000 limit relates to the combined amount in accounts under all of these names.

If you are unsure whether your account is held with Bank of Scotland plc please check your account literature.

Our products and offers are subject to conditions. We can withdraw them without notice.

We may change charges and make new or different ones (or change the way in which you have to pay them). We may also change interest rates.

We (and any other members of our group of companies) will keep any commission we (or they) receive in connection with any insurance we (or they) arrange.

Credit facilities provided by Intelligent Finance, a division of Bank of Scotland plc.

Information correct as at 25th March 2019.